Chapter 4

Question 1

What is the difference between conscious marketing and corporate social responsibility

Answer 1

Corporate social responsibility: “do no harm”
Shareholders (+)
Customers, employees, and society (-)

Conscious marketing: “do good”
Everyone (+) -> society, customers, other firms, employees, shareholders

Question 2

What are stakeholders

Answer 2

The broad set of people who might be affected by a firm’s actions, including not just corporate shareholders and customers but also employees (past, current, and prospective) and their families, supply chain partners, government agencies, the physical environment, and members of the communities in which the firm operates (defined either locally or on a global scale).

Question 3

What are the 4 steps for the ethical decision making framework

Answer 3

1. identify issues
2. gather information and identify stakeholders
3. brainstorm alternatives
4. choose course of action

Question 4

What are some questions to ask in the 3 stages of the marketing plan

Answer 4

Planning
How can we align marketing goals with our ethical values?

Implementation
How can we ensure that our marketing messages are honest?

Evaluation
How can we measure the social and environmental impact of our marketing efforts?